Kuwait Oil Workers Get 7.5percent Salary Raise

Oil workers in Kuwait are to receive an annual salary raise of 7.5 per cent.

The increase, which follows threats of strikes, comes after negotiations between Minister of State for Cabinet Affairs chairman Sheikh Mohammad Al Abdullah Al Sabah, the Oil and Petrochemical Industries Workers Confederation (OPIWC) and heads of oil unions.

The sides also agreed to offer retirees the option to choose either free healthcare at Kuwait Oil Company’s hospital or private health insurance. The committee set an annual raise at five per cent for new recruits

Some demands including providing workers with vehicles were not fully met, though the OPIWC said these would be considered by the committee at a future meeting.

Last month, Kuwait oil workers ended a three-day strike that disrupted output in OPEC’s fourth-largest producer for three days, after the government said it wouldn’t negotiate while the walkout lasted. The workers went on strike to protest cuts in pay and benefits.

A global glut of crude has pushed prices 30 per cent lower in the past year.

 

SOURCE : ARABIANBUSINESS

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